On this day, December 30 in the year 1983, one of the youngest billionaires spawn by the IT revolution was born in Massachusetts, USA. His name is Kevin Systrom, the co-founder of Instagram, an internet-based photo-sharing application. According to forbes.com, his net worth is $1.9 billion as of December, 2020.
Kevin Systrom was the son of a marketing executive father and a start-up executive mother. In high school, he was introduced to computer programming and during his free time, he worked in a record store. In 2006, he earned a bachelor’s degree in management science and engineering from Stanford University. As a college student, he had the chance to attend a fellowship which led to his internship at Odeo, the company that led to the creation of Twitter.
For two years after graduation, Kevin worked at Google as a member of the team that created Gmail and other products. When he left Google, he created an application called Burbn which later became Instagram after its features were pared down to just photo-sharing. When it was launched in 2010, it attracted millions of users in its first few months.
In 2012, Instagram was bought by Facebook for $1 billion. As owner with a 40% share, he received cash and Facebook stock which has since ballooned in value. It has then become one of the fastest growing apps with over 600 million users and Forbes magazine estimated that it is worth $50 billion if it were separated from Facebook.
In an interview with Fortune magazine, Kevin Systrom revealed that his almost obsession with technology was inspired by her mother. Eventually, what made him successful was his “single minded focus and retro-sensibility”.